(1,5025) The CABLE confirmed another weak closing on Friday after a test below 1,50. We could see further direct weakness toward 1,4750. The indicators of the daily chart are still well negative showing oversold conditions; those of the weekly one are also negative suggesting further possible pressure. The indicators of the s/t charts are also still negative with bullish divergences still confirming a negative tone. We expect further weakness toward our s/t target at 1,4955 with a possible extension toward 1,4880!. We are still short but moved the stop to 1,5135: in case of an hourly closing below 1,4980 we move the stop to 1,5055!!!
Click here to read the full report: GBPUSD 03.04
Future Trend Research